Loans from Colombia's state-owned export development bank Bancoldex to micro-, small- and medium-sized enterprises grew 99% to 407bn pesos (US$153.4mn) in the first half of 2004 compared to same-period 2003, according to a bank statement.
The bank lent a total of 1tn pesos during the first half of this year, with 41% of those credits going to SMEs.
The number of deal within this sector grew to 29,319 by the end of June this year, from 11,803 at the same time in 2003.
“The most important thing is not the increase in loans to small companies,” the statement said, “but rather the advances in modernisation and structural growth that the sector has seen as a result of more loans”.
Lending in most sectors grew in the first half of the year compared to same period 2003, including the services sector up 108% to 181.4bn pesos and the trade sector with a 188% hike to 48.2bn pesos.
Source: Business News Americas
